Month: May 2021

Treasury Lowers Q1 Borrowing Estimate by $54 Billion

first_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Borrowing Estimates Government U.S. Department of Treasury 2015-02-02 Brian Honea in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago The U.S. Department of Treasury’s borrowing estimate for the first quarter of 2015 is about 25 percent lower than its original prediction issued two months ago, according to an announcement from Treasury released Monday.Assuming a balance of $100 billion at the end of March, Treasury said it expects to issue $155 billion in net marketable debt for the period starting January 1, 2015, and ending March 31, 2015. That figure is $54 billion lower than the original estimate of $209 billion (assuming the same end-of-March cash balance of $100 billion) which Treasury released in November.Treasury attributes the lower borrowing to changes in cash balance assumptions and lower outlays, according to the announcement.For the second quarter of 2015, Treasury said assuming a cash balance of $150 billion at the end of June, it expects to pay down $7 billion in net marketable debt.At the end of the fourth quarter of 2014, Treasury had a cash balance of $223 billion, after issuing $227 billion in net marketable debt during the quarter. Treasury had about $232 billion in net marketable debt at the end of November 2014, at which time it assumed a cash balance of $200 billion by the end of December.Treasury said a lower financing need and more cash from other sources, partially offset by a higher ending cash balance for the quarter, were responsible for the decrease in borrowing for Q4 2014. Share Save Sign up for DS News Daily Home / Daily Dose / Treasury Lowers Q1 Borrowing Estimate by $54 Billion Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Strong Finish to 2014 For Texas Housing Market Caps State’s Second-Best Year Ever Next: DS News Webcast: Tuesday 2/3/2015 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago February 2, 2015 1,025 Views Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Tagged with: Borrowing Estimates Government U.S. Department of Treasury Related Articles Subscribe Treasury Lowers Q1 Borrowing Estimate by $54 Billionlast_img read more


May 31, 2021 0

Consumer Sentiment Tumbles in February After Hitting 11-Year High in January

first_img Tagged with: Conference Board Consumer Confidence Consumer Sentiment housing industry U.S. Economy University of Michigan The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post in Daily Dose, Featured, Market Studies, News Conference Board Consumer Confidence Consumer Sentiment housing industry U.S. Economy University of Michigan 2015-02-27 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago While Fannie Mae’s February 2015 Economic Outlook released on Thursday predicted a boost for housing this year based on strong economic growth, consumers may not be quite convinced, based on two consumer sentiment indices released this week.The University of Michigan/Thomson Reuters Index of Consumer Sentiment released Friday tumbled down to 95.4 for February after reaching its highest level in 11 years, 98.1, in January. Even with the month-over-month decline, however, February’s reading was still at its highest level in eight years and still much higher than the 81.6 reported for February 2014.”The underlying strength that has kept confidence at high levels has been job gains,” said Richard Curtin, chief economist for the Survey of Consumers. “While buffeted by harsh weather and lower gas prices, consumers have remained focused on gains in jobs and wages. Consumers intend to increase their spending during the year ahead, but they also want to keep a tight rein on their debt as well as to increase their precautionary savings. Few consumers believe that gas prices will not increase in the future, and even fewer think the economy will no longer suffer downturns. Without more robust wage increases, consumers will increasingly condition their spending on the availability of reduced prices.”Many economists and analysts have insisted that robust wage growth among Americans is needed to facilitate a complete recovery in housing – and particularly needed among milliennials, those ages 25 to 34, who are the key to household formation.The U.S. Bureau of Labor Statistics Employment Summary released in early February reported an average hourly wage gain of 12 cents month-over-month, from $24.63 to $24.75. Still, U.S. Treasury Secretary Jacob Lew said after that report was released that more wage growth is needed in order for the economy, and hence the housing industry, to recover.”Over the last year, we’ve seen average wages going up, a little over 2 percent,” Lew said in an interview with CNBC earlier this month. “We need more wage growth than that for people to really feel it, but it’s something to be that’s starting to be something that’s a trend in the right direction. I think we’ve got to do everything we can to help drive that trend forward.”The University of Michigan Index is not the only consumer index released this week that saw a decline, however. The Conference Board Consumer Confidence Index, released earlier this week, took a dive in February down to 96.4 after hitting 103.8 in January. In fact, consumers’ outlook was less optimistic in February than in January across the board – Conference Board data for the month indicated declines in consumers’ appraisal of current conditions, optimism about the short term outlook, and the outlook for the labor market – despite recent reports from the Obama Administration proclaiming that the labor market is at its healthiest since the turn of the century.”After a large gain in January, consumer confidence retreated in February, but still remains at pre-recession levels (September 2007, Index, 99.5),” said Lynn Franco, Director of Economic Indicators at the Conference Board. “Consumers’ assessment of current conditions remained positive, but short-term expectations declined. While the number of consumers expecting conditions to deteriorate was virtually unchanged, fewer consumers expect conditions to improve, prompting a less upbeat outlook. Despite this month’s decline, consumers remain confident that the economy will continue to expand at the current pace in the months ahead.” Demand Propels Home Prices Upward 2 days ago Consumer Sentiment Tumbles in February After Hitting 11-Year High in January Related Articles The Best Markets For Residential Property Investors 2 days ago February 27, 2015 1,196 Views Servicers Navigate the Post-Pandemic World 2 days ago Subscribecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Previous: Counsel’s Corner: Status Quo Will Prevail in Housing Policy for Foreseeable Future Next: Mortgage Insurer Compares FHA With Private Market at Congressional Hearing Share Save Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Consumer Sentiment Tumbles in February After Hitting 11-Year High in Januarylast_img read more


May 31, 2021 0

House Committee Approves Bills to Provide Regulatory Relief for Banks

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Government, News March 26, 2015 853 Views Servicers Navigate the Post-Pandemic World 2 days ago CFPB Dodd-Frank Act House Financial Services Committee Jeb Hensarling 2015-03-26 Samantha Guzman Share Save Demand Propels Home Prices Upward 2 days ago Subscribe Samantha Guzman is an award-winning visual journalist and graduate of the University of North Texas Mayborn School of Journalism. She specializes in visual storytelling and has skills in video, audio and photography, in addition to news writing. She has traveled to Mexico and Bosnia as an assistant for multiple multimedia projects and taught news writing, photojournalism, and narrative storytelling in the past. The House Financial Services Committee (HFSC) approved 11 bipartisan bills Thursday, aimed at providing community banks and credit unions some regulatory relief. According to Committee Chairman Jeb Hensarling (R-Texas), since the introduction of the Dodd-Frank Act, banks have been struggling to survive due to stricter regulation.“It is not an exaggeration to say that community banks and credit unions are withering on the vine. We are losing, on average, more than one a day and they are not perishing of natural causes,” he said. “The sheer weight, volume, cost, complexity, and uncertainty of federal regulation is a burden that is killing them off. And as they die, unfortunately, so do the dreams of millions of our fellow citizens who rely upon these community financial institutions to achieve their American dream of financial independence.”Representative Randy Neugebauer (R-Texas) applauded the HFSC for passing the bills, saying these regulatory bills will help Main Street financial institutions. The chairman of the financial institutions and consumer credit subcommittee has been critical of the CFPB in the past. Earlier this month he introduced a bill that would replace the director of the CFPB with a five person bipartisan committee.“Today, the Financial Services Committee has begun to move the pendulum closer to the direction of reasonable regulation by taking the first step to address much-needed regulatory relief for our Main Street financial institutions and the consumers they serve,” he said. “These 11 bills will help jumpstart economic growth across America and help move individuals and families closer to the American Dream. I applaud Chairman Hensarling and my colleagues on the committee and I look forward to working together as we move these regulatory relief measures into law.”Hensarling noted the 11 bills passed by the Committee had bipartisan support and had previously been approved by either the Financial Services Committee or the House of Representatives during the 113th Congress.  However, none of the bills came up for a vote in the Senate, which was then under Democratic control.Of the bills approved, one would allow credit unions to apply for membership with the Federal Home Loan Banks. Two other bills would alter the definition of mortgage rules, while another would exempt small mortgage servicers from certain regulatory requirements. The Bureau of Consumer Financial Protection Advisory Boards Act would establish advisory committees at the CFPB Related Articles Tagged with: CFPB Dodd-Frank Act House Financial Services Committee Jeb Hensarling Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Samantha Guzman Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / House Committee Approves Bills to Provide Regulatory Relief for Banks Governmental Measures Target Expanded Access to Affordable Housing 2 days ago House Committee Approves Bills to Provide Regulatory Relief for Banks Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: New York Fed Says Path for GSE Reform ‘Does Not Look Promising’ Next: DS News Webcast: Friday 3/27/2015 Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more


May 31, 2021 0

CUNA Asks CFPB to Delay TRID Effective Date Until January 1, 2016

first_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Related Articles The Credit Union National Association (CUNA) has asked the Consumer Financial Protection Bureau (CFPB) to delay implementation of the TILA-RESPA Integrated Disclosure (TRID) Rule, also called the Know Before You Owe Mortgage Rule, until January 1, 2016.CUNA, which represents America’s credit unions and their more than 100 million members, issued their request in the form of a comment submitted via email on CFPB’s proposal that would delay the effective date of TRID until October 3, 2015. Originally, TRID was scheduled to be implemented on August 1. The CFPB is allowing public comments until Tuesday, July 7, on its proposal to extend the TRID date to October 3.”CUNA believes the additional two month period is a step in the right direction to allow for an orderly transition to the new regulatory regime,” the organization wrote in its comment. “In particular, the extension is welcome given that the current effective date falls during the summer months, which is the busiest time of the year for many credit unions. We would, however, continue our ongoing call to implement a safe harbor for legal liability and enforcement until the end of the year to allow for proper transition to the new regulatory regime. We believe this is appropriate given the magnitude of changes requested by the CFPB.”CFPB announced the proposed amendment in late June to extend the TRID deadline by two months to correct an “administrative error” which necessitated a minimum extension of two weeks. The Bureau had also received many requests from lawmakers, lenders, and other mortgage industry professionals who are concerned with their ability to become fully compliant with the requirements of the rule in time for the original August 1 effective date.CUNA asked it its comment that the effective date of TRID be extended to January 1, 2016, together with a “corresponding safe harbor for legal liability and enforcement beyond the effective date.” The association noted in its comment that may credit unions will need to run dual tracks during the transition in order to provide for loan applications received before the TRID effective date as opposed to loan applications received after the effective date.”Allowing the industry ample time to properly plan for compliance with this major rule will be crucial to ensure proper implementation,” the Association wrote. “This transition will be cumbersome for most, so any additional time will greatly benefit the industry, minimize costs, and provide a smooth transition to the new regulatory regime.”CUNA referred to a June 19 letter the Association wrote to the CFPB in which it requested an exemption from the TRID rule for creditors that make five or fewer mortgages per year, as outlined in the rule’s supplementary information and the September 2014 Small Entity Compliance Guide.”Now that the effective date has been extended, there is adequate time to correct the inconsistency between the text of Regulation Z and the September 2014 Small Entity Compliance Guide and the supplementary information,” the Association wrote. “We urge the CFPB to address this issue so that the lending operations of credit unions are not negatively impacted and members can continue to receive financial services to meet their needs.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: NetDirector Launches Integration With Fannie Mae’s Default Managing Reporting System Next: Delinquency Rate Sees Largest Monthly Increase Since November 2014 CUNA Asks CFPB to Delay TRID Effective Date Until January 1, 2016 Sign up for DS News Daily Tagged with: CFPB Credit Unions CUNA TILA-RESPA Integrated Disclosure Rule TRID Rule The Week Ahead: Nearing the Forbearance Exit 2 days ago July 6, 2015 1,172 Views CFPB Credit Unions CUNA TILA-RESPA Integrated Disclosure Rule TRID Rule 2015-07-06 Brian Honeacenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Home / Daily Dose / CUNA Asks CFPB to Delay TRID Effective Date Until January 1, 2016 Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Share Save Demand Propels Home Prices Upward 2 days agolast_img read more


May 31, 2021 0

Major Dodd-Frank Reform Proposals are Imminent

first_img Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.  Print This Post Major Dodd-Frank Reform Proposals are Imminent Tagged with: Dodd-Frank Donald Trump Jeb Hensarling Republicans Wall Street Reform The Best Markets For Residential Property Investors 2 days ago Subscribe May 31, 2016 1,735 Views Sign up for DS News Daily Previous: McCalla Raymer and Pierce & Associates Join Forces Next: Utilizing the Single-Family Rental Market in Daily Dose, Featured, Government, News About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Major Dodd-Frank Reform Proposals are Imminent Dodd-Frank Donald Trump Jeb Hensarling Republicans Wall Street Reform 2016-05-31 Brian Honeacenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago While Republicans have been trying to roll back parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act since it was passed in 2010, in the next couple of weeks they have promised that some massive reform proposals are coming.U.S. Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, plans to present his party’s alternative to Dodd-Frank during a speech at the Economic Club of New York on June 7, according to a release from the House Financial Services Committee on Tuesday. Hensarling recently told DS News that “America needs a new vision—a new model for financial reform—because the Dodd-Frank Act is a failure.”Hensarling has not revealed any specifics about his plan as of yet, but it is believed that it will be simpler than the massive 2,300-page Dodd-Frank legislation, of which parts are still being enacted six years after the president signed it into law. He has said, however, that his plan will be tougher on Wall Street than Dodd-Frank, which the Republicans believe uses a “one size fits all” approach to reforming Wall Street that has adversely affected Main Street.In a public address back in March, Hensarling said that Dodd-Frank “stands as a monument to the arrogance and hubris of man in that its answer to incomprehensible complexity and government control is yet more incomprehensible complexity and more government control.”Hensarling’s plan is likely to include some type of reform to the Consumer Financial Protection Bureau (CFPB), which was created out of the Dodd-Frank Act. Hensarling has long criticized the Bureau as unaccountable and too powerful, and that in its current form, “it is producing great harm for consumers.”“(Dodd-Frank) stands as a monument to the arrogance and hubris of man in that its answer to incomprehensible complexity and government control is yet more incomprehensible complexity and more government control.”Jeb HensarlingAnother GOP Dodd-Frank reform proposal is coming soon from Donald Trump, the presumptive Republican presidential nominee, who told Reuters on May 18 that Dodd-Frank was a “negative force” and that he will completely overhaul the law if he is elected president.Trump said that the controversial Wall Street reform law “makes it very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs. And that has to stop.” He did not reveal specifics of his proposal, but he did say it would include a “near dismantling” of Dodd-Frank. He said on May 18 that he would unveil his plan in the next couple of weeks.Any attempt at major Dodd-Frank overhaul will be met with aggressive opposition from Democrats, who view Dodd-Frank as one of President Obama’s greatest victories. U.S. Sen. Elizabeth Warren (D-Massachusetts), one of Dodd-Frank’s biggest backers and one of the main architects of the CFPB, said recently, “Look, if Wall Street and their buddies in the Republican party want to launch an assault on financial regulations and they want to try to roll back Dodd-Frank, all I can say is, let’s have that fight. I’m ready. You can make it with words or anything else you want, but I am not backing down.”Click here for the live streaming of Hensarling’s speech on June 7.Editor’s note: Please see the June 2016 edition of DS News for our cover feature on Jeb Hensarling. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more


May 31, 2021 0

Why Homeownership Rate Can’t Keep Pace with Increase in Income Levels

first_img Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Why Homeownership Rate Can’t Keep Pace with Increase in Income Levels Share Save Homeownership Rate 2016-10-06 Kendall Baer Related Articles October 6, 2016 1,224 Views Tagged with: Homeownership Rate The Best Markets For Residential Property Investors 2 days ago Previous: The Rising Tide of Home Equity Next: Braving the Storm, Bettering the Industry Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Why Homeownership Rate Can’t Keep Pace with Increase in Income Levels About Author: Kendall Baer Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The homeownership rate is shrinking despite income increases and signs of a massive decline that spans education levels are becoming clearer, according to a recent report from Redfin.Over the last 10 years, the national rate has fallen by 4 percent to 63 percent of Americans owning homes. One factor to this is home prices moving faster than incomes. It is Redfin’s belief that something big must shift for this pattern to change its course. In the most recent data, incomes increased the most they have in decades, but the homeownership rate still didn’t keep pace.”The bad news is income has not been keeping up with home prices,” says Eric Scharnhorst, Redfin Livability Analyst. “But the good news is that between 2014-2015, middle class incomes jumped more than they ever have (5.2 percent). So there is that silver lining and we will see how that plays over the next ten years.”From 1995 and 2005, the gap in homeownership between households with a bachelor’s degree or higher and those that didn’t graduate high school widened nationwide from 14 percent to 21 percent. This was due to the college-educated group increasing their rate of homeownership while the group that didn’t graduate high school decreased their rate of homeownership.Redfin’s data shows that overall, higher educated people are more likely to become homeowners with just one exception to that rule being high school grads versus households without a bachelor’s degree that took some college courses. Both of these subgroups have the same rate of homeownership nationwide even at the city level.Redfin hypothesizes that one possible explanation could be student loans, which create an extra monthly payment that reduces leverage from a home loan application. Redfin notes that the average monthly payoff of $242 for student loans cuts $57,000 off of the top of a home loan, and this moves a whole sector of homes out of reach for these potential buyers.The report does say that shared declines are only part of the picture. Looking further at the data provides insight that shows the most educated households are less vulnerable to foreclosures than the least educated. Redfin believes this is most likely because the most educated households tend to make more money, but this could mean the current sorting will remain the same until a future economic shock, such as another housing or job crisis, will further widen the gap. Subscribelast_img read more


May 31, 2021 0

Stern & Eisenberg Expands Team

first_img About Author: Nicole Casperson Sign up for DS News Daily Stern & Eisenberg, a regional law firm servicing ten states and the District of Columbia with a team of over 50 attorneys and 200 staff announced the hiring of Elizabeth Potter in the role of Business Development Director and the promotion of Angela Wilson to the role of Client Relations Manager.Potter and Wilson will serve critical functions in the firm’s expanded Value Department, headed by Chief Value Officer Kathy Brady. Potter, who recently served as SVP of Business Development and Member Relations for the American Legal & Financial Network (ALFN), a national, legal-based trade association in the mortgage default industry, will spearhead the firm’s business development across all practices, business lines, and regions stretching from New York to Georgia.“We’re thrilled with the team we have in place,” said Brady. “Liz is an industry veteran and has seamlessly stepped into her role representing the firm and we’re excited about the business opportunities she will help us cultivate.”Brady continued, “Our existing clients are in great hands with Angela [Wilson]. She’s worked in several roles within the firm and is well versed in the issues and pain points of our clients and I know she’ll be able to swiftly and effectively manage the day-to-day needs of our clients in the hands-on and high-touch way they’ve come to expect from Stern & Eisenberg.”Wilson in her new role will lead and handle client relations issues and escalations, drive client strategies that continuously improve firm efficiencies, education and communication efforts for existing clients. Demand Propels Home Prices Upward 2 days ago February 11, 2018 1,907 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Stern & Eisenberg Expands Team Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Weathering the Next Storm in REO Next: LERETA Launches New Tax Platform The Best Markets For Residential Property Investors 2 days ago  Print This Post Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Subscribe in Daily Dose, Featured, News, Servicing Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: HOUSING mortgage Movers and Shakers stern & Eisenberg Home / Daily Dose / Stern & Eisenberg Expands Team The Best Markets For Residential Property Investors 2 days ago HOUSING mortgage Movers and Shakers stern & Eisenberg 2018-02-11 Nicole Casperson Demand Propels Home Prices Upward 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more


May 31, 2021 0

HUD’s Carson: Proud to “Move Others up the Ladder”

first_img Demand Propels Home Prices Upward 2 days ago Subscribe Related Articles Tagged with: 2018 Five Star Government Forum American Enterprise Institute Ben Carson Brian Montgomery Department of the Treasury Edward DeMarco Fannie Mae. Freddie Mac FHA FHFA Five Star Government Forum HUD Leonard Kiefer Mark Palim peter wallison tendayi kapfidze Yvette Gilmore The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Journal, News Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: David Wharton David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] 2018 Five Star Government Forum American Enterprise Institute Ben Carson Brian Montgomery Department of the Treasury Edward DeMarco Fannie Mae. Freddie Mac FHA FHFA Five Star Government Forum HUD Leonard Kiefer Mark Palim peter wallison tendayi kapfidze Yvette Gilmore 2018-04-03 David Wharton HUD’s Carson: Proud to “Move Others up the Ladder”center_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily  Print This Post Home / Daily Dose / HUD’s Carson: Proud to “Move Others up the Ladder” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago April 3, 2018 2,382 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: How REO Sales Impact Home Prices Next: Single-Family Rentals on the Rise (l-r) Ed Delgado and Dr. Benjamin CarsonThe 2018 Five Star Government Forum launched at the Newseum in Washington D.C. Tuesday morning with a discussion between United States Secretary of Housing and Urban Development Dr. Benjamin Carson and Five Star President and CEO Ed Delgado. Carson told the assembled guests that he was proud of HUD’s work to “empower others and move them up the ladder.” Carson also addressed an issue the industry has been watching closely for months: the nomination of Brian Montgomery, currently Vice Chairman of the Collingwood Group, for the role of Assistant Secretary for Housing—Federal Housing Commissioner, U.S. Department of Housing and Urban Development.Montgomery originally appeared before the Senate Banking Committee last fall. However, the Senate went into recess before voting on his nomination. As such, the Banking Committee must now revote on the issue before it goes before the full Senate for a vote. While Carson did not reveal any specific timeline on the Montgomery vote, he did tell Delgado that “We are hoping to add Brian Montgomery to the team soon.”Next up was a second keynote from Peter Wallison, Senior Fellow and Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute. Wallison formerly served as White House Counsel to the President of the United States, Counsel to the Vice President of the United States, and General Counsel for the United States Department of the Treasury, where he played a significant role in the development of proposals for the deregulation of the financial services industry.Peter WallisonWallison told the crowd, “The thought that only federally backed programs can provide 30-year fixed-rate mortgages is a myth.”During the Policy and Regulation Update panel that followed, Yvette Gilmore, VP, Servicer Relationship and Performance Management at Freddie Mac, addressed the lessons learned from last year’s barrage of natural disasters, including hurricanes that swept over Texas, Florida, and Puerto Rico, as well as the wildfires and mudslides that plagued California. Gilmore told Forum attendees that “Disaster response was about being responsive to our customers.”Following the Policy and Regulation panel, expert speakers assembled for the “Housing Economy in Focus” panel, which delved into economic trends and the state of the market. Mark Palim, Deputy Chief Economist at Fannie Mae, told the crowd that “new home sales are 25 percent below where they should be.”Inventory shortages have been a critical problem in markets across the country in recent months, but LendingTree Chief Economist Tendayi Kapfidze told the crowd, “The supply question for new homes is less dire than it is for existing homes.”The panel also addressed another hot topic: getting millennials into the mix and buying homes, something that’s been made difficult for many by the combination of limited housing supply and skyrocketing home prices in many markets.(l-r) Tendayi Kapfidze, Leonard Kiefer, and Mark Palim“Younger adults are not forming households at the same rate as they used to,” said Leonard Kiefer, Deputy Chief Economist, Freddie Mac. According to a recent Freddie Mac report, “the rate of heading a household (headship rate) for young adults in 2016 was down 3.6 percentage points as compared to young adults in 2000. If these young adults had formed households at the rate of the young adults in 2000, then the U.S. would have had 1.6 million additional households in 2016.”“Millennials have the same aspirations toward homeownership,” said Palim. “But they ran into a recession.” (Click here to read an exclusive DS News interview with Palim.)After lunch, Hon. Edward DeMarco, President of the Housing Policy Council, Financial Services Roundtable, delivered another keynote speech in which he addressed issues at the Federal Housing Administration.Topics for the rest of the day include “Regulatory and Enforcement Priorities of the CFPB,” “Expanding Homeownership,” and “HUD and The Future of Housing.” Stay tuned to DS News for more coverage from the 2018 Five Star Government Forum. You can follow along on Twitter by following the hashtag #FSGF18.last_img read more


May 31, 2021 0

Tax Reform’s REIT Impact

first_img Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago January 10, 2020 1,670 Views  Print This Post Demand Propels Home Prices Upward 2 days ago Tax Reform’s REIT Impact Tagged with: Investment REIT Home / Daily Dose / Tax Reform’s REIT Impact Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Certain tax reforms, including the Tax Cut and Jobs Act (TCJA), have made real estate investment trusts a more attractive investment, Financial Advisor reports., Financial Advisor reports. According to Financial Advisor, because most REIT distributions are classified as qualified dividends, the trusts can provide a higher deduction than would direct ownership of real estate.“The Section 199A deduction for qualified REIT dividends, netted with qualified [publicly traded partnership] income, isn’t constrained by the income-based QBI deduction limitations,” said Mariana Moghadam, CPA with Sobel & Co. in Livingston, N.J. on Financial Advisor. “Even for a high-income taxpayer, the deduction equals 20%.”Housing is needed no matter the economic conditions, making residential real estate a relatively safe real estate investment trusts (REIT) a safe investment, NuWire Investor notes. Real estate overall is largely safe in a recession compared to other investments.“Real estate is protected from volatility by factors like location, scarcity, and plot size,” NuWire states. “But unlike tangible property, which is expensive to buy and tough to sell, REITs can be traded on many investing apps. Because they come in single shares, even low-budget investors can diversify their REIT holdings.”The risk, NuWire notes, is that residential REITs are “notoriously local,” leading many investors to add investments outside the U.S., keeping their portfolio safe in the event of a large-scale national downturn.REITs can be reliable and well-managed stocks, according to Forbes Real Estate Investor editor Brad Thomas, and interest in these stocks are growing rapidly. In a piece on Forbes, Thomas discussed the benefits of the REIT, noting the larger dividends, despite how slow REIT investments tend to be.“That last quality gives investors their choice between keeping that additional income or reinvesting the money back into their positions,” Thomas said.“Those are the good sides to real estate investment trusts. The downside, you could say, is that they’re not exactly going to make you rich overnight.” Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Investment, News Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: The Reverse Mortgage Conundrum Next: The Week Ahead: Readdressing the Community Reinvestment Act Investment REIT 2020-01-10 Seth Welbornlast_img read more


May 31, 2021 0

Biden Issues Executive Order on Foreclosures; HUD Updates DACA Regulations

first_imgHome / Daily Dose / Biden Issues Executive Order on Foreclosures; HUD Updates DACA Regulations Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News 2021-01-20 David Wharton Biden Issues Executive Order on Foreclosures; HUD Updates DACA Regulations Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago January 20, 2021 3,053 Views The Best Markets For Residential Property Investors 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Share Save Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles On the first day of his administration, President Joe Biden issued a slate of executive orders, including one that called on federal departments and agencies to extend their bans on evictions and foreclosures through at least the end of March. As with the previous extensions, this act is designed to provide ongoing relief to homeowners and renters feeling the negative financial impact of the ongoing COVID-19 pandemic.According to the order, both housing foreclosures and evictions would be delayed until at least March 31, 2021.Earlier this week, FHFA extended once again their moratoriums on single-family foreclosures and real estate owned (REO) evictions through February 28. The moratoriums were previously set to expire on January 31.Also, on Wednesday morning, HUD Secretary Dr. Benjamin Carson and HUD Deputy Secretary Brian Montgomery announced that FHA would now permit DACA status recipients to apply for FHA-insured mortgages. The change was made effective as of January 19. According to the FHA’s statement:Prior to today’s announcement, the FHA Single Family Housing Handbook (“Handbook 4000.1 Section II.A.1.b.ii(A)(9)(c) includes this statement: “Non-US citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.” This language was incorporated into the FHA Handbook by the Obama Administration in September 2015 although it was first incorporated into FHA guidelines in 2003.The statement also noted that “other FHA requirements remain in effect for all potential borrowers including DACA status recipients:the property will be the borrower’s principal residence;the borrower has a valid Social Security Number (SSN), except for those employed by the World Bank, a foreign embassy, or equivalent employer identified by HUD;the borrower is eligible to work in the U.S., as evidenced by the Employment Authorization Document issued by the USCIS; andthe borrower satisfies the same requirements, terms, and conditions as those forU.S. citizens.”Editor’s note: This piece has been updated to clarify that the FHA DACA changes were implemented by HUD Secretary Carson and Deputy Secretary Montgomery. Demand Propels Home Prices Upward 2 days ago About Author: David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Rental Relief Needed Now Next: Housing Markets Most Impacted by COVID-19 Subscribelast_img read more


May 31, 2021 0